The View From 1776

Market Mythology

Propagandists for Keynesian macroeconomics, today’s handmaiden for socialism, sincerely believe that trillions of dollars of Federal deficit spending are not enough to re-boot the economy. They are confident, however, that if the government triples its current level of deficit spending the economy will recover fully.

In his recap of factors blocking the Fed’s loose-money policy aiming to manipulate economic recovery, Mr. Samuelson should also mention Obama’s continual business-bashing and the flood of anti-business regulation gushing from Federal regulatory bureaus.

Uncertainty is the enemy of long-term capital investment, the only activity that creates new jobs. And Comrade Obama in his reign as chief socialist has done almost everything one could imagine to create uncertainty and fear in business executives.